Calgon Carbon reports strong earnings gain in fourth quarter

11:53 AM MST | February 21, 2013 | Lindsay Frost

Calgon Carbon says fourth-quarter net income significantly grew compared to the fourth quarter 2011—up 85%, to $9.1 million. Earnings per share of 16 cts/share were above analyst estimates of 14 cts/share, according to Thomson Reuters (New York). Sales increased 2.6%, to $141.8 million year-on-year (YOY), though currency translation had a $1-million negative impact on sales due to the stronger US dollar, the company says. Results for the quarter also include a $2.3-million restructuring charge comprised of severance and pension-related expenses—which...